GD Extends NNS Offer

Monday, June 25, 2001
General Dynamics extended its pending tender offer for all outstanding shares of common stock (including associated rights) of Newport News Shipbuilding Inc. to midnight, EDT, on July 6, 2001. The offer was previously scheduled to expire at midnight, EDT, on June 22, 2001. As of midnight, EDT, on June 22, 2001, approximately 20,248,926 shares (including guaranteed delivery) of Newport News had been tendered. While the number of shares tendered exceeds the majority of shares outstanding, on a fully diluted basis, of Newport News Shipbuilding, General Dynamics is awaiting the requisite governmental approval in order to complete the transaction. Newport News Shipbuilding designs and constructs nuclear-powered aircraft carriers and submarines for the U.S. Navy and provides life-cycle services for ships in the Navy fleet. The company employs nearly 17,000 people and has annual revenues of approximately $2 billion. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 47,000 people worldwide and anticipates 2001 sales of approximately $11.5 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems.

Ship Repair & Conversion

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

Royal IHC Upgrades TSHD Pump for Van Oord

Royal IHC informs it has completed the upgrade of the underwater pump and jet water system on trailing suction hopper dredger (TSHD) VOLVOX TERRANOVA for Van Oord.

Five Minutes with Paul Switzer

Five minutes with Paul Switzer - Manager, Shipbuilding & Offshore, Viega   For readers not familiar with Viega, please give a ‘birds eye’ view, putting the company

Navy

Iran Vessels Make 'High Speed Intercept' of US Ship

Four of Iran's Islamic Revolutionary Guard Corps (IRGC) vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said, amid

Shots Fired: US Navy Ship Warns Iranian Vessel

A U.S. Navy ship fired warning shots after an Iranian fast-attack craft approached two U.S. ships in the northern Gulf on Wednesday, a U.S. Defense official said.

Iran Defends Encounter with US Warship

Iran's defence minister said on Thursday four of his country's vessels accused of harassing a U.S. warship were only doing their job, and Tehran would contront

 
 
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